DSP Healthcare Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

DSP Healthcare Fund Direct Growth Plan has a NAV of ₹50.72 as of 11 Sep 2026 and a scheme AUM of ₹3,835 Cr. Its 1-year, 3-year and 5-year returns are 15.26%, 21.72% and 15.31% respectively, and the scheme carries a High Risk classification. In our view, it has been a strong long-term compounder for a sector-focused equity fund, but the recent path has been uneven, so the fit is better for investors who can tolerate sharp swings.

The fund’s return pattern is healthier over 3 years and 5 years than over the latest few months, and its portfolio is concentrated enough that a handful of names can matter meaningfully. That makes it more suitable as a focused satellite holding than as a core stability anchor.

Quick facts

Particular	Details
NAV	₹50.72 as of 11 Sep 2026
AUM	₹3,835 Cr
Expense Ratio	0.56%
Launch Date	30 Nov 2018
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.50% on or before 1M, Nil after 1M
Fund Managers	Chirag Dagli

The fund is managed by Chirag Dagli.

Source data date: as of 11 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.59%	-4.81%
3M	9.82%	-3.63%
1Y	15.26%	-8.27%
3Y	21.72%	5.59%
5Y	15.31%	5.58%

The near-term pattern is mixed, but the fund has still held up better than the benchmark. Over 1 month, it was only slightly negative, while the benchmark fell more sharply. Over 3 months and 1 year, the fund recovered far better than the benchmark, which tells us the strategy has been able to participate in rebounds rather than simply track the broader market.

The stronger message comes from the longer periods. A 3-year return of 21.72% against 5.59% for the benchmark shows clear outperformance over a full market cycle, and the 5-year return also stays well ahead. That is important because a healthcare-focused fund can see periods where sentiment or stock selection works against it, yet the longer compounding still matters more for patient investors.

We also note that the recent 1M result is softer than the 3M and 1Y figures. That kind of move is not unusual for a sector fund, but it does mean the path is less smooth than a broad-market equity fund. The overall picture is one of meaningful upside capture over time, tempered by short-term volatility.

Source data date: as of 11 Sep 2026

Should you BUY or HOLD DSP Healthcare?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
DSP Healthcare Fund Direct Growth Plan	15.26%	21.72%	15.31%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.16%	37.12%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	27.47%	Data not available	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	27.05%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	26.51%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	25.46%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the latest 1-year figure, the fund trails several of the named peers, especially the more aggressive thematic option in the table. That said, the 3-year and 5-year numbers still show a steadier longer-term compounding profile than the short list of peers where those periods are not available. So the comparison is split: the fund is not the strongest on recent 1-year performance, but its longer run remains more useful for an investor looking at healthcare exposure over time.

Source data date: as of 11 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Ipca Laboratories Limited	Healthcare	8.74%
Sun Pharmaceutical Industries Limited	Healthcare	7.95%
Sai Life Sciences Limited	Domestic Equities	7.45%
Cipla Limited	Healthcare	7.35%
Apollo Hospitals Enterprise Limited	Healthcare	6.47%
Gland Pharma Limited	Healthcare	5.98%
Globus Medical Inc	Overseas Equities	5.44%
Divi'S Laboratories Limited	Healthcare	4.15%
Alkem Laboratories Limited	Healthcare	4.08%
Cohance Lifesciences Limited	Healthcare	3.81%

The top holding, Ipca Laboratories Limited, carries an 8.74% weight, which is meaningful but not extreme on its own. The gap from the first holding to the tenth is noticeable: the list moves from 8.74% down to 3.81%, so influence gradually broadens rather than dropping off in one sharp step.

The top 10 holdings account for approximately 61.42% of the portfolio, and the scheme discloses 29 holdings in total. That combination suggests a fairly concentrated portfolio with a long enough tail to reduce single-stock dependence, but not enough breadth to make each position negligible. In our view, the larger names are likely to have greater influence on returns than the smaller positions, especially when healthcare leadership shifts between a few core stocks.

There is also a meaningful mix across healthcare, domestic equities and overseas equities in the largest positions, which may help the portfolio avoid being locked into one narrow pocket of the market. Even so, the visible weights show that the fund is still built around a small cluster of high-conviction holdings rather than a broad index-like spread.

To see all holdings, visit the DSP Healthcare Fund Direct Growth Plan page

Source data date: as of 11 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk equity exposure and can stay invested through uneven stretches. The 3-year and 5-year numbers show that patient holding periods can matter more here than short-term timing, while the recent pattern shows that the ride will not be smooth.

It fits better as a medium- to long-term allocation where an investor wants healthcare exposure and can accept that results may diverge from the broad market at times. The main trade-off is clear: the fund has delivered stronger longer-run outcomes than the benchmark, but that has come with sharper short-term swings and a concentrated stock mix.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: 0.50% if units are sold within 1 month; no exit load after 1 month.

Source data date: as of 11 Sep 2026

Frequently asked questions

What is the current NAV of DSP Healthcare Fund Direct Growth Plan?
Its NAV is ₹50.72 as of 11 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 15.26% for 1 year, 21.72% for 3 years and 15.31% for 5 years.

How has it performed against the benchmark?
It has done better than the Nifty 50 across 1 month, 3 months, 1 year, 3 years and 5 years. The widest gap is in the 1-year and 3-year periods.

Which fund manager handles this scheme?
Chirag Dagli manages the fund.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

How concentrated is the portfolio?
The top 10 holdings account for approximately 61.42% of the portfolio, so the fund is meaningfully concentrated in a limited set of positions.

Bottom line

DSP Healthcare Fund Direct Growth Plan has a stronger longer-term record than its recent one-month showing suggests, and its 3-year and 5-year returns remain well ahead of the benchmark. The fund’s High Risk profile and concentrated portfolio mean the ride can be uneven, but the largest positions still leave room for diversification across a 29-holding book. It looks most appropriate for investors who want focused healthcare exposure and can tolerate volatility in exchange for potentially stronger long-run compounding.

Published on 16 September 2026 at 9:25 AM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.